HomeMy WebLinkAbout1956-B-1850 ORDINANCE NO. B -1$50
AN ORDINANCE fixing the time . of delinquency of installments of assessments levied for the
payment of the cost.of the improvement in Local Improvement District No. $13
and •.providing for the issuance of bonds with coupons attached for the pay-
ment of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $4429.90 for the improvement
made in Local Improvement District No. $13 as created and established by Ordinance No.
B -1711 of the Ordinances of the City of Yakima, which shall be paid in 10 equal annual
installments, the first installment to be paid on or before the 27th day of January,
1957, with interest on the whole unpaid sum at the rate of 4 per cent per annum, and each
year thereafter one of such installments together with interest thereon and on the instal -
ments thereafter to become due at the rate of 4 per cent per annum shall be due and pay-
able on or before the 27th day of January in each year, and shall be collected in the sam•
manner as is provided by law and the ordinances of the said City.
Section 2. If any of the said installments of principal or interest are not
paid on or before the 27th day of January of each year in which the same shall be payable
as provided in Section 1 hereof, the same shall thereupon become and be delinquent and
and shall be collected as provided by the laws of the State of Washington and the ordinan
ces of the City of Yakima, and said delinquent assessments shall bear interest at the
rate of 4 per cent per annum until paid and be subject to a charge of 5 per cent penalty
upon both principal and interest due thereon.
Section 3. For the payment of the unpaid balance of the cost and expense of
said improvement in said Local Improvement District No. 813„ there sall be issued bonds
of the District in the sum of 74429.90, said issue to consist of 14 bonds in the denomin.
tion of $300.00 each and one bond of the denomination of "229.90 to be numbered from one
upwards consecutively, and shall bear interest at the rate of 4 per cent per annum, pay-
able annually on the 16th day of February each year, the several installments of interest
to be evidenced by coupons attached to said bonds and both ;principal and interest shall
I.. be payable at the office of the City Treasurer in the City of Yakima, Washington.
Section 4. The bonds rovided for herein shall be substantially in the form
prescribed by Section 1$ of Ordinance No. A -192 as amended of the ordinances of the City
of Yakima, Washington. They shall be issued under date of February 16th, 1956, and app -
roximately 1 /10th of said bond issue shall be payable on or before the 16th day of Feb-
ruary of each year thereafter, to and including the 16th day of February, 1968.
Section 5. This ordinance is one relating to local improvements or assess-
ments therefor and shall become effective immediately upon its passage, approval and
publication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 20th day of
February, 1956.
ATTEST: PEARL BENJAMIN (S E A L) G. W. BURNS.,
City Clerk Mayor
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I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B -1$50 entitled "AN ORDINANCE fixing the time of delinquency of installments of
assessments levied for the payment of the cost of the improvement in Local Improvement
District No. $13, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed this 20th day of February, 1956, and
that same has been published as required by law.
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C I T /T C L E R K